Home realty, incorporated, has been operating for three years and is owned by three investors. j. doe owns 60 percent of the total outstanding stock of 9,000 shares and is the managing executive in charge. on december 31, the following financial items for the entire year were determined: sales revenue, $181,000; salaries and wages expense, $100,000; interest expense, $6,600; advertising expenses, $9,175; and income tax expense, $18,800. also during the year, the company declared and paid the owners dividends amounting to $15,000.prepare the company’s income statement.

Explanation:

The preparation of the company’s income statement is presented below:

                               Home Realty, Incorporated

                                     Income statement

Sales revenue                         $181,000

Less: Total expenses

Salaries and wages expense ($100,000)

Interest expense                     ($6,600)

Advertising expenses             ($9,175)

Income tax expense               ($18,800)

Net income                              $46,425

answer; that person may have a larger tax bill to pay on income taxes;

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.